125.509 – LIABILITY FOR ACCESS TO OR REMOVAL OF CONTENTS.
Texas Finance Code § 125.509
Summary
This law protects credit unions from liability when they allow access to safe deposit boxes, provided they follow proper procedures. It applies to credit unions that have identified the keys and adhere to legal and internal security protocols.
Credit unions are not liable for safe deposit box access if procedures are followed.
Applies only if keys are properly identified per regulations.
Encourages adherence to established security protocols.
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In simple terms: Learn about Texas's LIABILITY FOR ACCESS TO OR REMOVAL OF CONTENTS. law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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